What the financial statements say The latest operating results are similar to 2020, when Robex mined the bottom of the main pit, where gold grades were best and stripping costs were minimal. At the same time, the POG broke a history high.
Currently, the operational conditions are very different from those of 2020. The exploitation of the head of the mineralized zones implies that the gold concentration is lower, BUT it is progressing. In addition, the exploitation of the surface implies that the volume of waste rock to be moved is greater, BUT it decreases rapidly. Given the successive improvements applied to the plant and the improvement of the operating conditions, I estimate that the objective of >50,000 ounces of gold for 2022 will be achieved without difficulty. Considering the revision of the objectives in 2021, I assume that those of 2022 were established with the wish not to revise them for a second consecutive year.
This improvement in operational efficiency, which translates into financial efficiency, will contribute to the stable development of a new project, much larger than Nampala. As mentioned at the 2021 annual meeting, we must keep the objective fixed on the development of the new project. Now that we have it, Nampala becomes the lever to ensure the success of the Kiniero project. Beyond its important dimension, I appreciate the little concern it arouses.
Robex has been continuously transforming for 5 years. This first phase of transformation was driven by the objective of achieving operational/economic efficiency. For the next 2, this transformation will be provided by Kiniero, which will propel the pace of growth to another level, much faster this time.
I am sincerely proud to see the solid foundation of Robex and the commitment of the management team to conclude this transaction with Sycamore. I have always believed that the best transactions are made when everyone finds their account. In this case, the synergies and benefits that will result are numerous.
GLTA